FIIs may acquire stake in Adarsh Plant

Adarsh Plant Protect Ltd has informed that the Company has made an achievement for the second time in negotiations with regards to the Foreign Investments in the Company.

Company has received one more Letter of Intent (LOI) which is from Sisa Tradelink Inc., USA, for securing a stake in the Company to the tune of 4.50%. The price of equity / warrant would be decided as per the SEBI Guidelines chapter VIII and other necessary approvals and subject to approval of Board and Members, but not less that Rs 55/- each which would be more than 20% (approximate value) of the current price of the equity. This is second stepping stone after receiving the first letter of intent from Lewis and Company, UK asking for 4.90% equity. So total FI placement would now be 9.40%. Further more Company is in very advanced stage of negotiating to the other FI, FII, HNI and Indian institutions for more investment in the Company.